Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.03%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.30%
baseline attrition
Rally response
-3.44%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSEMTower Semiconductor Ltd. | $20M | 3.2% | +392.1% | 3.0 yr |
| LINCLincoln Educational Serv | $14M | 2.3% | +156.3% | 8.8 yr |
| STRLSterling Infrastructure, | $13M | 2.1% | +259.7% | 10.5 yr |
| — | $12M | 1.9% | — | 2.0 yr |
| LGNDLigand Pharmaceuticals I | $12M | 1.8% | +89.9% | 2.0 yr |
| DRSLeonardo DRS, Inc. | $12M | 1.8% | +36.6% | 3.5 yr |
| KTOSKratos Defense & Securit | $11M | 1.8% | +137.5% | 4.3 yr |
| GSATGlobalstar, Inc. | $11M | 1.7% | +218.4% | 0.8 yr |
| INSMInsmed Incorporated | $10M | 1.6% | +114.3% | 3.8 yr |
| GHMGraham Corporation | $10M | 1.6% | +173.8% | 4.8 yr |
| MIRMMirum Pharmaceuticals, I | $10M | 1.6% | +105.1% | 1.0 yr |
| CECOCECO Environmental Corp. | $9M | 1.5% | +161.3% | 7.5 yr |
| HCIHCI Group, Inc. | $9M | 1.4% | +4.6% | 8.0 yr |
| AGXArgan, Inc. | $9M | 1.4% | +318.5% | 2.3 yr |
| AAPLApple Inc. | $8M | 1.3% | +14.7% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology11.8%+3.9pp$75M
Semiconductors8.9%+4.4pp$56M
Engineering & Construction7.3%+1.6pp$46M
Medical - Devices5.7%+0.1pp$36M
Aerospace & Defense5.5%+1.0pp$35M
Software - Application5.4%-0.7pp$34M
Industrial - Machinery4.2%-1.2pp$26M
Hardware, Equipment & Parts3.7%+1.0pp$23M
Unknown3.2%+0.9pp$20M
Oil & Gas Equipment & Services2.9%+0.7pp$18M
Country
US86.3%-4.1pp
IL5.4%+0.9pp
Unknown3.2%+0.9pp
CA2.1%+0.5pp
JE0.8%+0.3pp
IE0.8%+0.7pp
NL0.7%+0.2pp
CH0.6%+0.5pp
Top 5: 11.3% · Top 10: 19.9% · Top 25: 38.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TSEM | $6M | +0.02B | 392.1% |
| STRL | $6M | +0.02B | 259.7% |
| AGX | $5M | +0.02B | 318.5% |
| KTOS | $11M | +0.01B | 137.5% |
| AMPX | $3M | +0.01B | 529.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $7M | -0.00B | -0.6% |
Top buys this quarter · 15
| SNDX Syndax Pharmaceuticals, Inc.new | +$5M |
| BWAY BrainsWay Ltd. | +$4M |
| MG Mistras Group, Inc.new | +$4M |
| NVCR NovoCure Limited | +$4M |
| DIOD Diodes Incorporatednew | +$3M |
| RSKD Riskified Ltd.new | +$3M |
| AGIO Agios Pharmaceuticals, Inc. | +$3M |
| MITK Mitek Systems, Inc. | +$3M |
| LQDA Liquidia Corporationnew | +$3M |
| JOUT Johnson Outdoors Inc. | +$2M |
Top sells this quarter · 15
| TSEM Tower Semiconductor Ltd. | −$13M |
| AGX Argan, Inc. | −$9M |
| UVE Universal Insurance Holdings, exit | −$6M |
| STRL Sterling Infrastructure, Inc. | −$5M |
| GLDD Great Lakes Dredge & Dock Corpexit | −$5M |
| ANGO AngioDynamics, Inc.exit | −$4M |
| MXL MaxLinear, Inc.exit | −$4M |
| WGO Winnebago Industries, Inc.exit | −$3M |
| CRNT Ceragon Networks Ltd.exit | −$3M |
| RDCM RADCOM Ltd.exit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $632M | 305 | +49.93% | +17.59% | +32.33% | -0.03B |
| 2025-12-31 | $656M | 306 | +33.62% | +17.72% | +15.90% | -0.01B |
| 2025-09-30 | $653M | 299 | +38.24% | +17.52% | +20.73% | -0.01B |
| 2025-06-30 | $550M | 298 | +27.60% | +14.94% | +12.66% | -0.03B |
| 2025-03-31 | $479M | 303 | +6.53% | +8.30% | -1.77% | -0.02B |
| 2024-12-31 | $556M | 307 | +28.72% | +24.89% | +3.84% | -0.05B |
| 2024-09-30 | $574M | 302 | +34.81% | +36.04% | -1.23% | -0.02B |
| 2024-06-30 | $535M | 302 | +10.82% | +24.49% | -13.67% | +0.03B |
| 2024-03-31 | $507M | 306 | +15.72% | +29.62% | -13.90% | -0.05B |
| 2023-12-31 | $508M | 315 | +11.14% | +26.18% | -15.04% | -0.17B |
| 2023-09-30 | $613M | 356 | +0.43% | +21.57% | -21.14% | -0.04B |
| 2023-06-30 | $716M | 368 | +10.81% | +19.42% | -8.61% | -0.01B |
| 2023-03-31 | $688M | 385 | -17.08% | -7.82% | -9.26% | +0.02B |
| 2022-12-31 | $642M | 394 | -24.32% | -18.17% | -6.14% | +0.01B |
| 2022-09-30 | $627M | 411 | -16.35% | -15.51% | -0.84% | +0.00B |
| 2022-06-30 | $619M | 423 | -16.27% | -10.62% | -5.65% | -0.01B |